Economy

• Saturday, June 16th 2018 - 10:43 UTC

  Beijing tells Trump it is ready to retaliate with tariffs on US$ 50bn US exports, but also wants to dialogue

  

  China responded forcefully in state media on Saturday after the administration of U.S. President Donald Trump said it would impose tariffs on US$50 billion of Chinese imports, but some commentary left room for further negotiations.

• Saturday, June 16th 2018 - 10:09 UTC

  Despite a last minute Spanish fiscal surprise, Ronaldo scored a hat trick

  

  Footballer Cristiano Ronaldo has reportedly agreed to accept a €18.8m fine and a suspended jail term to settle tax evasion charges. The Real Madrid and Portugal footballer, 33, was accused last year of defrauding tax authorities of €14.8m, charges he denies.

• Friday, June 15th 2018 - 10:57 UTC

  Petrobras ex-CEO becomes head of Brazilian giant food processor BRF

  

  The board of Brazilian food processor BRF SA on Thursday elected Chairman Pedro Parente to the additional post of chief executive, the company said in a securities filing. Parente, the former CEO of state-controlled oil company Petrobras will hold both positions for an initial period of 180 days, BRF said.

• Friday, June 15th 2018 - 10:55 UTC

  Markets waiting for Trump's announcement on US$ 50bn tariffs against China

  

  Asian shares wobbled on Friday as investors braced for U.S. tariffs against China, while the Euro flirted with two-week lows after a cautious European Central Bank indicated it would not raise interest rates for some time. U.S. President Donald Trump has made up his mind to impose “pretty significant” tariffs and will unveil a list targeting US$ 50 billion of Chinese goods on Friday, an administration official said. Beijing has warned that it was ready to respond.

• Friday, June 15th 2018 - 10:51 UTC

  Theresa May again on the edge: Pro-EU Tories backing for crucial Brexit votes questioned

  

  A UK government's compromise to avoid a Commons defeat on Brexit has been rejected as “unacceptable” by leading rebel Dominic Grieve. Prime Minister Theresa May had convinced most rebels - who want MPs to have the final say - to back her in a key vote on Tuesday night by giving them assurances. But the wording of the promised compromise has now been published.

• Friday, June 15th 2018 - 10:28 UTC

  ECB will stop its bond-buying scheme, €30bn a month, next December

  

  The European Central Bank (ECB) has confirmed it will end a huge program to stimulate the Euro-zone economy in December. The ECB will stop its bond-buying scheme, worth €30bn a month, despite a recent slowdown in the bloc's recovery.

• Friday, June 15th 2018 - 10:25 UTC

  IMF report warns Trump administration on trade, tariffs and budget deficits

  

  The International Monetary Fund said on Thursday that tax cuts will help fuel the U.S. economy this year and next. But it warned that growth after that will slide to levels just half of what the Trump administration is forecasting.

• Friday, June 15th 2018 - 06:56 UTC

  Forex run in Argentina: Macri appoints new Central bank president

  

  Argentine president Mauricio Macri appointed Finance Minister Luis Caputo as president of the central bank on Thursday, after the outgoing head of the bank resigned and acknowledged having lost credibility.

• Friday, June 15th 2018 - 06:25 UTC

  'Brexit leaves UK isolated from allies and begging for trade deals with ex colonies'

  

  Britain will be left a “mangy old lion” as a result of Brexit, isolated from its allies and reduced to begging for trade deals from one-time colonies, a former Foreign Office minister is warning. Lord Malloch-Brown, who chairs the Best for Britain campaign for a second referendum, said that the UK’s loss of influence was exposed at last week’s G7 summit, where Theresa May was left a “spectator” to a clash between the US, Canada and the EU.

• Thursday, June 14th 2018 - 22:14 UTC

  IMF's Lagarde welcomes Argentina government’s economic policy plans

  

  Argentine authorities have asked to use US$7.5 billion of the US$50 billion financing deal signed with the International Monetary Fund to fund their budget, IMF Managing Director Christine Lagarde said in a statement. Argentina’s Finance Ministry said in a separate statement that the funds would be sold on the market through pre-announced daily auctions conducted by the central bank.